Do you have a property for sale in Malta? Malta is a very small island placed strategically between Europe, North Africa and the Middle East. It was a British colony for a long time, so the culture in Malta is very close to what we have in the UK.
Malta has a terrific climate, it stays sunny here for much of the year and temperatures are generally mild. Malta has a strong property market, which finds a plenty of takers among foreign investors, especially from British buyers. English is widely spoken in Malta, and the island is well connected by air to Britain, Germany and the rest of Europe.
This beautiful Mediterranean island is considered by many to be one of the best places to buy a retirement home or holiday home. It is also a thriving business centre. Malta is home to a large financial services industry, software companies and e-gaming firms. So it’s not just retirees who want to relocate to Malta, a number of young people want to look for opportunities here.
Malta has a very tempting Golden Visa scheme, which guarantees extensive residency permits to those who invest 300,000 in Maltese properties. The tax rate in Malta is very low – just 15 percent – which makes it a very attractive option for cash rich overseas investors looking for a property abroad.
It’s very easy to buy a holiday home in Malta, and foreign investors have extensive property rights, almost the same as locals – especially if they are EU citizens. Non EU-nationals will find their rights well protected by the Maltese law, so this should not be a problem.
However, if you already own a home in Malta, you should be a resident for 5 years or get a permit called as Acquisition of Immovable Property form, before buying a second home. Non EU residents must acquire the AIP permit, even if they’re buying their first property in Malta.
You must also obtain a permit if you’re going to rent out your holiday home on the island. Any earnings made from the property has to be declared to the relevant authorities for tax purposes.
Most people look to buy properties in Malta in the areas of Sliema and St Julian's. The amenities here are as good as they get. The schools are excellent, the public transport system couldn’t be better and the sea views are as good as they get. The properties are pricier than those in the other parts of the island.
Valletta is another popular area in Malta which has a thriving local economy, but unfortunately, not much of a night life. It can get very quiet here at night time. But for those looking for jobs in Malta, Valletta is the place to be as it is home to much of Malta’s business community.
The islands of Gozo and Comino are popular as well, especially with those who want to live as close to nature as possible.
The best part about living in Malta is the highly favourable tax regime. There’s no wealth tax, no inheritance tax, and no capital gains tax is charged on homes which have been held for a period of three years or more and it is your primary residence.
However, holiday homes are charged a capital gains tax of eight percent of their value. You may find this information useful if you want to sell your real estate in Malta fast.